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Rounding up the last trading day of the month of May, equities trading on the floor of the Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added 47Bpts to its trading points and closed at 38,437.88 from 38,256.95. Safe NSE-Consumer Goods and NSE-Insurance Index that shed points, other observed market indices in this report closed above their respective opening points. Thus, WtD, the lead index is 47Bpts above the opening point, while the total lost points in the month of May is now 351Bpts. See the index movement table for details.
Equities performances on the floor of The Nigerian Stock were mixed, with January and April closing in the positive territory, while February, March and the just concluded month of May closed down. YtD lead Index is 4.55% down, while the market capitalization of the listed Equities sheds N1.022 trillion YtD. Fundamental factors that dictated market trend through the 5 months spanned from the second stage of Covid 19 that opened the market in January, the release of interim full year numbers that prepared investor for the final audited numbers, the first quarter numbers equally played its usual impact, as traders optimized the numbers to position against expected half year earnings come this June/July. We cannot rule out reactions to MPC meetings held so far in the year. Although the NBS reported a marginal adjustment in the inflation numbers for the month of April, and a 0.51% YoY growth in the nations GDP for the first quarter of the year, the impact was more negative on Equities performances. It must also be mentioned that, the improvement in the fixed income market saw less risky funds out of the Equities market. We are of the opinion that positioning for half year numbers, especially in Equities with half year dividend policy should be considered at the moment; while smart traders are expected to take advantage of the dropping price.
The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N94.309 billion, same as 47Bpts above the opening value. Meanwhile, trading activities for the day produced 17 ADVANCERS and 23 LAGERS. NSEASI Year to Date loss is now 455Bpts while the Market Capitalization Year to Date loss stood at N1.022 trillion same as 485Bpts below the year’s opening value.
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